Eraserheads Concert Streamed Live - The death of commercial media begins

While everyone else is writing about the Eraserheads: The Final Set concert post-mortem, I'd like to draw some attention to some technology trends that's competing commercial media.

Did you know that around 700+ people watched the concert streamed live for free?

Sites like UstreamTV allows anyone to broadcast an event with as little as using a Phone. Now this is a trend and lots of tech savvy people are doing this already on small events but the E-Heads is probably the biggest event streamed online up to this point in Philippine history. This trend also basically says some media business models such as TV broadcast rights have its days numbered.

Secondly a complementary technology was also used to provide narrative report using Twitter. I was tracking entire event from different people's perspective by searching hashtags #eheads at search.twitter.com.

What's so good about this technology is the instant viewer to host interaction allowing not only to broadcast the host's narration but allows real-time aggregation of other event witnesses' narrations and viewer comments. Again this is already a norm in small events but the E-Heads concert being twittered is the first instance such technology trend is racing head-on with traditional media.

So what does this means to all of us? We are seeing a glimpse of the future where we won't rely anymore on commercial media to deliver us not just information but entertainment as well. This tell us a of an inevitable paradigm-shifts in business models that will challenge and break large media corporations from broadcasting, licensing and all the way to production.